Currently, there are few things certain within the UK housing market and the future so far is still among many things being debated. In recent times, the Bank of England has not hesitated in raising the standard base rate. This can make some house owners hesitant about making any moves whether considering buying or selling. Many house owners however have turned to a mortgage lending tool which makes sense and ensures some financial stability for the future. That lending tool is remortgage.

House owners who have watched their mortgage loan defer to the lender Standard Variable Rate after maturity are facing a time of decision. This decision to remortgage can potentially make a significant difference in the area of saving money. With a lower interest rate than the original loan rate, it is possible to save money with a lower monthly mortgage payment. Whilst saving money is high motivation for most that pay a monthly payment, sometimes it takes more to make a move. There is more to offer home owners who decide to remortgage than just saving money.

Housing speculation within the UK housing market has shifted from the London region to more northern parts of the country. More and more investors and those looking to flip a property are spending time in the northern region compared with the capital city of London. According to a recent study by Hamptons International, a division of Countrywide, the top area to flip a property is Burnley in Lancashire. More than 6% of all properties in the city during the past year were purchased then quickly sold again for profit.

Recent comments from the Bank of England governor Mark Carney have brought on some serious reaction concerning the possibility of impact of a no deal Brexit. Carney is of the opinion that a no deal Brexit could result in house prices falling by a third, or 35%. His comment was met with fierce opposition from many within the UK housing market. Estate agents especially had issue with the comments from Bank of England governor Carney.

House prices within the UK housing market are still rising, just not at such a stellar pace as before, according to the latest economic figures. Nationwide figures indicate house prices grew at just over 2% from the beginning of this year through Q2. This is the slowest year on year growth in a five year period. Compared to Q1, house prices only saw growth of 0.42%. London experienced the lowest amount of house price growth compared to all other regions. The market is expected to follow this trend through the rest of this year.

The summer of 2018 within the UK housing market will go down as one which saw major activity from several sectors. After the standard base rate increase in the month of November 2017, heavy speculation quickly surfaced that there would be another rate hike in the month of May this year. It was not voted into reality and another rate rise did not occur until August of this summer. All the talk of rate hikes sent house owners scrambling to the nearest lender to remortgage. July became the most remortgage active month in a decade.